6 Steps to Successful Target Marketing: #4 – Describe

DISCOVER * DISSECT * DISCERN * DESCRIBE * DEVELOP * DIFFERENTIATE

Describe

For each of the segments of the target market you have identified, list words that describe elements of value. The words may describe physical things like location, wide aisles, varied selection or emotional attributes like friendliness (I’m more than a customer) or ease of doing business, or fast response or ability to really listen.

You might be thinking everybody values these attributes. The question is not the general nature of the application of the Golden Rule; rather you are describing what drives buying behavior.

What elements of value mean something when customers are making choices in your market?  Don’t be hung up on psychographic or demographics for this exercise – you are looking for the combination of attributes that describe value expectation driving behavior, not intent. What do people actually do?

You may meet a new customer that will tell you a story of intent (I’ve been meaning to come by, or check this out for months, etc.). But they did not. The value delivery was apparently not compelling enough to change behavior. This simple matrix may help.

Name of Target Market Target Market Name 1 Target Mkt Name 2 Target Market Name 3
Main Characteristics Characteristics

For TM 1

Characteristics

For TM 2

Characteristics

For TM 3

Elements of Value (EOV)

EOV 1

EOV 2

EOV3

Keep it simple. Lists of words or phrased for characteristics and values. No one paragraphs needed here. Focus on what is meaningful to behavioral change and/or loyalty.

IF you need some objective, 3rd party help in working through understand target market characteristic and values, click here – the initial contact is FREE.

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SHARE YOUR STORY

Please, share your journey of the Describe process by using the comment section for this blog. These questions are only thought-starters:  you may have something else to share.

Were you able to make the chart?

How do that process make you feel?

Were you able to engage customers in a conversation about what they value in doing business with you?

What did you learn in the process?

What was the result (what changed)?

What advice do you have for others who need to do this?

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